The best credit card processing company for your business depends on your specific industry needs, sales volume and whether you do more sales online or offline. NerdWallet based the following picks on factors such as processing costs, setup speed, fund deposit time, ability to accept various types of payments and customer support.
Here are our top choices for the best credit card processing companies and what makes them stand out.
Best Credit Card Processing Companies
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Input your business’s monthly transaction details and we’ll help you sort from the best valueProduct | Cost Estimate | Payment processing fees | Cost Estimate | Learn more | ||
|---|---|---|---|---|---|---|
Square Learn more on Square's secure website | Get an estimated monthly cost for your business. | 5.0/5 Best for All-in-one payment services | In-person: 2.6% + $0.10 Online: 2.9% + $0.30 | $0.00 Starts at $0/month for unlimited devices and locations. | Get an estimated monthly cost for your business. | Learn more on Square's secure website |
Helcim Learn more on Helcim's secure website | 5.0/5 Best for Interchange-plus pricing | In-person: 0.4% + $0.08 Online: 0.5% + $0.25 Plus interchange | $0.00 | Learn more on Helcim's secure website | ||
Stax by Fattmerchant Learn more on Stax by Fattmerchant's secure website | 4.5/5 Best for Membership-style pricing | In-person: 0% + $0.08 Online: 0% + $0.15 Plus interchange | $99.00 and up. | Learn more on Stax by Fattmerchant's secure website | ||
Stripe Learn more on Stripe Payments' secure website | 5.0/5 Best for E-commerce businesses | In-person: 2.7% + $0.05 Online: 2.9% + $0.30 | $0.00 | Learn more on Stripe Payments' secure website | ||
Payment Depot Learn more on Payment Depot's secure website | 4.0/5 Best for High-volume sales | In-person: 0% + $0.00 Online: 0% + $0.00 Plus interchange | $79.00 and up. | Learn more on Payment Depot's secure website | ||
Shopify Payments Learn more on Shopify Payments' secure website | 4.5/5 Best for Shopify e-commerce users | In-person: 2.7% + $0.00 Online: 2.9% + $0.30 | $29.00 Basic plan; $79 Shopify plan; $299 Advanced plan. | Learn more on Shopify Payments' secure website | ||
PaymentCloud Learn more on PaymentCloud's secure website | 3.5/5 Best for High-risk businesses | 2.7% + $0.00 to 4.3% + $0.00. | $10.00 to $45. | Learn more on PaymentCloud's secure website | ||
Payline Learn more on Payline's secure website | 4.5/5 Best for Shopping cart integrations | In-person: 0.4% + $0.10 Online: 0.75% + $0.20 Plus interchange | $10.00 in person; $20 online. | Learn more on Payline's secure website | ||
Dharma Merchant Services | 4.5/5 Best for Nonprofits | In-person: 0.15% + $0.08 Online: 0.2% + $0.11 Plus interchange | $15.00 for most industries; $12 for nonprofits. | |||
Payanywhere | 4.5/5 Best for Small, in-person transactions | In-person: 2.69% + $0.00 Online: 3.49% + $0.19 | $0.00 and up. |
Our pick for
All-in-one payment services
Square
Learn more
on Square's secure website
Monthly fee
$0.00
Starts at $0/month for unlimited devices and locations.
Square is a strong overall choice for credit card processing because its flat-rate pricing model is simple to understand and allows you to budget for a fixed monthly cost, although your actual cost may be higher than what you’d pay with interchange-plus pricing.
Pros
- Quick setup.
- Offers all-in-one system, including hardware, point-of-sale software, a payment gateway and payment processing.
- Funds are available instantly for a fee of 1.5% of the amount.
- Customer support is available weekdays from 6 a.m. to 6 p.m. Pacific time for free subscription; 24/7 customer support is available for paid subscriptions.
- Integrates with QuickBooks Online and Xero accounting software through a third-party app.
Cons
- Doesn’t provide services for businesses in certain industries.
- Doesn't work on Windows devices.
Our pick for
Interchange-plus pricing
Helcim
Learn more
on Helcim's secure website
Monthly fee
$0.00
Helcim is a standout choice for credit card processing because it checks off many boxes. Setup is quick. Helcim gives you the ability to accept credit cards in person, online, through an app or over the phone. The rates are also competitive.
Pros
- Quick setup; approvals usually take a day.
- In-house customer support is available seven days a week.
- Offers volume-based discounts automatically.
- Syncs directly with QuickBooks Online.
Cons
- Deposits are available within two business days; same-day deposit option is not available.
- Card reader is not included with your plan; it can be purchased for $199 per unit.
- Doesn’t offer services to businesses in certain industries.
Our pick for
Membership-style pricing
Stax by Fattmerchant
Learn more
on Stax by Fattmerchant's secure website
Monthly fee
$99.00
and up.
Stax offers plans starting at $99 per month that give businesses access to 0% markup on interchange fees, plus a low fixed fee per transaction. That makes it a strong choice for businesses with high sales volumes.
Pros
- 0% markup charged on top of interchange fees.
- Same-day funding available for 1% fee.
- Lowest-tier plan includes a free terminal or mobile reader.
- In-house customer support is available 24/7.
Cons
- Longer setup time than a payment service provider, typically 48 hours.
- Not all pricing plans include QuickBooks Online sync.
- Doesn’t offer services to businesses in certain industries.
Our pick for
E-commerce businesses
Stripe
Learn more
on Stripe Payments' secure website
Monthly fee
$0.00
Stripe stands out from the competition because its suite of developer-friendly tools allows you to customize the online payment experience for your e-commerce business. With no monthly fees, pay-as-you-go pricing and volume discounts, Stripe is a solid option for businesses of any size.
Pros
- Quick setup.
- 24/7 phone, chat and email support is available.
- Syncs with QuickBooks Online.
- Instant payout option available for 1% fee (minimum fee of 50 cents).
Cons
- Services aren’t available to businesses in certain industries.
- Requires some technical knowledge to fully take advantage of all features.
Our pick for
High-volume sales
Payment Depot
Learn more
on Payment Depot's secure website
Monthly fee
$79.00
and up.
Payment Depot doesn’t charge a markup on top of interchange fees but instead has membership pricing plans at a set monthly cost, which can be a cost savings for businesses with high sales volume. Volume-based discounts are also offered.
Pros
- 0% markup charged on top of interchange fees.
- Some pricing plans include free hardware.
- Well-rated in-house customer support.
- Integrates with QuickBooks Online.
Cons
- Approval usually takes 24 hours, which is longer than some competitors.
- Doesn't offer a same-day funding option.
- In-house customer support is only available on weekdays.
- Doesn’t offer services to businesses in certain industries.
Our pick for
Shopify e-commerce users
Shopify Payments
Learn more
on Shopify Payments' secure website
Monthly fee
$29.00
Basic plan; $79 Shopify plan; $299 Advanced plan.
Shopify Payments accepts multiple payment methods and offers competitive processing fees. Because it’s a fully integrated service offering an e-commerce platform, a point-of-sale system, and payment processing services, e-commerce businesses can simplify and streamline their sales and transactions.
Pros
- Accepts a variety of payment methods.
- Can customize checkout page.
- Easy to set up and use.
- Transparent, flat-rate fees.
Cons
- E-commerce plan with monthly fee is required to use Shopify Payments.
- Charges fee for use of third-party payment gateway.
Our pick for
High-risk businesses
PaymentCloud
Learn more
on PaymentCloud's secure website
Payment processing fees
2.7% + $0.00
to 4.3% + $0.00.
Monthly fee
$10.00
to $45.
PaymentCloud caters to small businesses that work in industries that are classified as high risk. It’s a competitive option for merchants who are struggling to find payment processors.
Pros
- Provides merchant accounts to high-risk businesses, such as those that have elevated rates of credit card fraud or chargebacks, or those that sell age-restricted products.
- 24/7 customer support is available.
- Integrates with QuickBooks Online.
Cons
- Pricing is not transparent.
- You can generally get approved within 48 hours, but it can take longer depending on how quickly you submit the required documents.
Our pick for
Shopping cart integrations
Payline
Learn more
on Payline's secure website
Monthly fee
$10.00
in person; $20 online.
Payline’s affordable and transparent pricing helps business owners accurately calculate their payment processing fees, and its user-friendly interface makes it a good option for small-business owners.
Pros
- Pricing transparency.
- Competitive transaction rates.
- Customer support by phone and email.
- No long-term contracts or cancellation fees.
- No PCI compliance fees.
- Integrates with many POS systems, shopping carts and QuickBooks.
Cons
- Separate monthly fees for in-person and online processing; monthly fees can add up if you process transactions both in person and online.
Our pick for
Nonprofits
Dharma Merchant Services
Monthly fee
$15.00
for most industries; $12 for nonprofits.
Dharma Merchant Services prioritizes simplicity and affordability. It integrates with most point-of-sale hardware systems.
Pros
- Competitive transaction pricing.
- Good flexibility.
Cons
- Monthly fees can be barrier to entry.
- Requires separate accounts for online and in-person payments.
Our pick for
Small, in-person transactions
Payanywhere
Monthly fee
$0.00
and up.
Payanywhere is a strong option for merchants looking for a mobile POS with straightforward pricing. In addition to payment processing, it offers tools for invoicing, reporting, and inventory and employee management.
Pros
- In-house payment processing.
- Simple pricing model.
- Free next-day funding. Option for free same-day funding in some cases.
- Offers a virtual terminal.
Cons
- Limited integrations.
- Potential early termination fees.
- Doesn't work with some business types.
Square: Best for all-in-one payment services
Why we like it: Square stands apart from the competition with its flat-rate pricing and end-to-end payment processing solution. This means it handles most aspects of a credit card transaction, so you don’t need to purchase a payment gateway (a payment processing portal) or point-of-sale system from separate providers. Square provides a free credit card reader that works with its free app and a smartphone or tablet. Read our full Square review.
- $0 for Square POS, Restaurant, Retail and Appointments Free plans.
- $29 for Square Appointments Plus plan.
- $60 for Square Restaurant Plus plan.
- $69 for Square Appointments Premium plan.
- $89 for Square Retail Plus plan.
- Custom pricing for Square Retail and Restaurant Premium plans.
- 2.6% plus 10 cents for in-person transactions.
- 2.9% plus 30 cents for online transactions.
- 3.5% plus 15 cents for manually keyed transactions.
- 3.3% plus 30 cents for invoices.
- $0 for Square magstripe-only card reader ($10 for each additional reader) or if using Tap to Pay for iPhone (iPhone not included).
- $49 and up for Square Reader contactless and chip card reader.
- $149 for Square Stand iPad POS or Square Stand Mount (iPad not included).
- $299 for Square Terminal mobile card reader with built-in printer.
- $799 for Square Register two-screen system.
Helcim: Best for interchange-plus pricing
Why we like it: Helcim's pricing model is transparent, with no hidden fees. It uses interchange-plus pricing with volume-based discounts, making it a particularly cost-effective option for businesses with high monthly sales. The company has customer support available by phone, as well as comprehensive support resources on its website. Read our full Helcim review.
$0.
- Interchange plus 0.4% and 8 cents per in-person transaction (if $50,000 or less in monthly card transactions).
- Interchange plus 0.5% and 25 cents per online or manually keyed transaction (if $50,000 or less in monthly card transactions).
- 0.5% plus 25 cents for ACH payments.
- $109 for a mobile card reader (with stand).
- $349 for a standalone terminal with built-in thermal printer.
Stax: Best for membership-style pricing
Why we like it: Stax's membership pricing model can save some businesses enough money to justify the monthly fee, especially if they have high sales volumes. Stax offers same-day funding for an additional fee. Phone-based support and an online knowledge base also make it a solid choice. Read our full Stax review.
- $99 if you process up to $250,000 per year.
- $199 if you process between $250,000 and $500,000 per year.
- Custom quote if you process more than $500,000 per year.
- Interchange plus 8 cents for in-person transactions.
- Interchange plus 15 cents for manually keyed transactions.
Quote-based.
Stripe: Best for e-commerce businesses
Why we like it: Stripe enables your business to accept a wide range of online payment methods, including mobile wallets like Apple Pay, Google Pay and Alipay. It also lets you offer financing options to customers through "buy now, pay later" companies like Klarna and Afterpay. Read our full Stripe review.
- $0 for standard Stripe Connect.
- $2 per account for Stripe Express (for marketplaces) or Stripe Custom (the white-label option that allows businesses to customize the checkout process).
- 2.7% plus 5 cents for in-person transactions.
- 2.9% plus 30 cents for online transactions.
- 3.4% plus 30 cents for manually keyed transactions.
- 4.4% plus 30 cents for international card transactions.
- $59 for Stripe Reader M2.
- $249 for BBPOS WisePOS E card reader.
- $349 for Stripe Reader S700.
Payment Depot: Best for high-volume sales
Why we like it: Payment Depot's rates make it a cost-efficient option to consider if you are a medium- or high-volume merchant. Its monthly subscription fee is based on your processing volume, and it doesn't charge a markup on the interchange rate. Read our full Payment Depot review.
- $79 if you process up to $250,000 per year.
- Custom quote if you process more than $250,000 per year.
Interchange plus $0 per transaction.
Quote-based.
PaymentCloud: Best for high-risk businesses
Why we like it: PaymentCloud works with businesses in high-risk industries, including those selling age-restricted products like tobacco and firearms; businesses that have high chargeback rates, such as electronics resellers; or those that may face a higher risk of fraud, such as finance companies. PaymentCloud also provides seven-days-a-week customer support for businesses in these industries. Read our full PaymentCloud review.
$10 and up.
2.7-4.3% on average for high risk transactions.
Quote-based.
Dharma Merchant Services: Best for nonprofits
Why we like it: Dharma Merchant Services describes itself as a “socially responsible” merchant services provider. It makes sense, then, with the company’s commitment to sustainability and charitable giving, that it also offers discounted monthly and payment processing fees to registered nonprofits. Dharma is also fully transparent with its pricing, which isn’t true for all credit card processing companies. Read our full Dharma Merchant Services review.
- $12 for nonprofits.
- $15 for business to business, e-commerce, hospitality, retail and restaurant.
- Interchange plus 0.15% + 8 cents for in-person transactions.
- Interchange plus 0.20% + 11 cents for online transactions.
- Interchange plus 0.25% + 8 cents for in-person AmEx transactions.
- Interchange plus 0.30% + 11 cents for online AmEx transactions.
- $149 for Walker 2 chip, swipe and NFC card reader.
- $295 for First Data FD-150, Verifone Engage V200c, Ingenico Desk/3500 or Dejavoo Z11 terminals.
- $369 for Ingenico Desk/5000 terminal.
- $480 for FD-150, Desk/3500, V200c or Z11 terminals plus a separate pinpad.
- $649 for Clover Flex mobile card reader with printer.
- $899 for Clover Mini POS device.
- $1,649 for Clover Station Solo POS bundle.
- $1,999 for Clover Station Duo POS bundle.
Shopify Payments: Best for Shopify e-commerce users
Why we like it: Shopify Payments has competitive rates for payment processing and integrates directly with Shopify. Because you must have a paid Shopify plan to use its payment processing and POS solutions, Shopify Payments is a great fit for a business that already has a Shopify plan for e-commerce. Read our full Shopify Payments review.
To use Shopify POS, you also must have a Shopify plan for e-commerce:
- $29 for Shopify Basic when billed annually (or $39 when paid monthly).
- $79 for regular Shopify when billed annually (or $105 when paid monthly).
- $299 for Shopify Advanced when billed annually (or $399 when paid monthly).
- Custom pricing for Shopify Plus.
Once you have a Shopify plan for e-commerce, add either:
- $5 for Shopify POS Lite.
- $79 per location for Shopify POS Pro when billed annually (or $89 when paid monthly).
- 2.4%, 2.6% or 2.9% plus 30 cents for online payments for Advanced, Shopify or Basic plan, respectively.
- 2.4%, 2.5% or 2.7% for in-person payments for Advanced, Shopify or Basic plan, respectively.
- $49 for Tap & Chip card reader.
- $219 for Tap & Chip countertop kit (iPad not included).
- $299 for Shopify POS Go mobile device.
- $349 for Shopify POS terminal.
- $459 and up for POS terminal countertop kits.
Payline Data: Best for shopping cart integrations
Why we like it: Payline Data is transparent with its monthly and payment processing fees and is one of the rarer credit card processing companies that work with high-risk merchants. It also integrates with many popular shopping carts, including Shopify, WooCommerce and BigCommerce, to enable you to easily take payments through your online store. Read our full Payline Data review.
- $10 for in-person sales.
- $20 for online sales.
- Interchange plus 0.4% and 10 cents for in-person transactions.
- Interchange plus 0.75% and 20 cents for online transactions.
- Pricing varies by card type for manually keyed transactions.
Quote-based.
Payanywhere: Best for small, in-person transactions
Why we like it: Payanywhere does not add a markup fee to its flat-rate, in-person transaction fee, which makes it a cost-efficient option for small transactions at a brick-and-mortar business. However, depending on the hardware you choose, costs could add up quickly with Payanywhere as your provider. Read our full Payanywhere review.
- $0 if using only 3-in-1 reader.
- $14.95 per device if using Smart Keypad.
- $24.95 per device if using Smart PINPad Pro or Smart Flex.
- $44.95 per device if using Smart POS+.
- 2.69% for in-person transactions.
- 3.49% plus 19 cents for online, keyed and virtual terminal transactions.
Payanywhere will place a payment device at your business for free, or you may choose to purchase the hardware:
- $59.95 for 3-in-1 reader.
- $249.95 for Smart Keypad.
- $449.95 plus one-time setup fee of $49.95 for Smart PINPad Pro.
- $549.95 plus one-time setup fee of $49.95 for Smart Flex.
- $949.95 plus one-time setup fee of $99.95 for Smart POS+.
Credit card processing involves authorizing and transferring funds between a customer’s issuing bank and a business’s merchant bank to complete a sale. It only takes a few seconds to authorize a customer’s credit card information, but the process doesn’t stop at the checkout line. After the card reader lets you know the customer’s credit card information has been approved, money moves from bank to bank via the settlement process, which usually takes at least one business day to complete.
Brick-and-mortars need software and hardware to accept credit card payments in-person — lots of credit card processing companies offer both. Square, for example, sells card readers and POS systems, plus monthly software plans that start at $0. As opposed to a physical card reader, online businesses need a payment gateway that lets customers securely enter their credit card information online and get it authorized. These generally come bundled together with payment processing services, too.
Expect to pay for a monthly subscription and per-transaction costs for credit card processing fees. Some monthly subscriptions are free while others cost upwards of $99. Credit card processing companies also charge a per-transaction fee that may vary depending on the card type and payment method (in-person or online).
Most of the time, that per-transaction fee will look something like 2.6% plus 15 cents, for example. Per-transaction costs are made up of three components: interchange fees, which are paid to the issuing bank; assessment fees, which are paid to the card networks; and payment processor fees.
Credit card processing companies that charge higher monthly subscription fees may offer lower processing fees — you’ll need to evaluate your business’s monthly sales volume and average sales cost to determine whether that model will save you money. Others have volume discounts, meaning you’ll pay less per transaction if you do more than $50,000 in sales per month, for example.
If you aren't sure where to start, NerdWallet's list of the cheapest credit card processing companies is a good launching point.
Starting out, look for credit card processing companies that can accommodate payments within each of your sales channels, whether those are online, in-person or both. If you prefer an all-in-one payment processor and POS system provider, rule out companies that don’t sell their own hardware (POS terminals, card readers, etc.).
Here are some additional factors to consider to choose the right credit card processing company for you.
- Cost: On top of weighing payment processing fees and monthly subscription costs, look for credit card processing companies that don’t charge extra fees for setup, termination or PCI compliance.
- Deposit timing: Ideally, a credit card processing company will offer same-day or next-day deposits. That way, you don’t have to wait long for customers’ payments to show up in your bank account.
- Contracts: Switching credit card processing companies can be a pain, but you still want to leave the option open. Try to narrow your choices down to companies that don’t require you to sign a long-term contract.
- Customer service: Consider live chat and phone support options, as well as which days and times they’re available. If your business is open outside of normal business hours, it might be convenient to go with a product that offers around-the-clock support.
- Integrations: If your credit card processing company offers its own POS software, make sure it integrates seamlessly with your accounting system and any additional programs you use for other tasks, like inventory management. Also determine whether you need to integrate with e-commerce software and online shopping carts.
Last updated on September 20, 2023
Methodology
NerdWallet’s ratings of payment processing providers rewards companies whose products and services are priced well and work in a variety of payment scenarios, among other criteria. Ratings are based on weighted averages of scores in several categories, including overall cost, hardware and software options, system capabilities, customer service, contract requirements and integrations. Learn more about how we rate payment processing providers.
These ratings are a guide, but fees, hardware, software and contract requirements can vary widely from business to business and provider to provider. We encourage you to shop around and compare several providers.
NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.
